How High Slippages Are Thwarting DeFi
The world of DeFi has enabled many users to take autonomy back over their finances with hot wallets and DEXs being the storage method of choice for many. However, whilst innovation-led initiatives across DeFi, such as Fantom (FTM), Avalanche (AVAX), and others are providing real utility to the ecosystem, there is a problem with high slippage fees for certain tokens, preventing true meritocracy.
Slippage fees are often how exchanges and wallets make their money and are the difference between the market price and the price that they will execute your trade under. High slippages are most commonly seen when liquidity is low or there is volatility as if the price is changing rapidly the exchange wants to ensure they cover the price movements.
Yuniverze (YUNI) is looking to address this issue by scanning the market for the best liquidity and lowest slippage fees to ensure that the end user gets the best available price. This could revolutionise the way that investors interact with DeFi as competitiveness will be enhanced and the true meritocracy that DeFi promises can be achieved.
Youniverze’s native coin YUNI is currently in its first stages of presale and will reward early investors for helping the project expand its operations.
Solana Starts The Week Strong
After a brief break back below $40 last week, Solana (SOL) has opened the week with a 7% gain and breaking through the $42 barrier. The project has been very active as of late with its developments of the world’s first Web3 phone and planned improvements to operability.
Last week Solana was involved in controversy by association as Slope Wallet was allegedly responsible for allowing over $8 million worth of Solana to exit users’ wallets in a breach. Whilst Solana the protocol has had nothing to do with the hack and should not be blamed, it puts negativity out there surrounding the coin after a tumultuous year that has seen reported network outages leaving some people to question the network.
Nevertheless, Solana boasts some of the fastest transaction speeds alongside low fees and is a growing commodity for developers for Web3. Multiple NFT marketplaces and projects are being built on the Solana network with Magic Eden being one of the largest with a recent valuation of $1.6 billion.
Bitcoin Breaks $24,000
Last week saw Bitcoin lose a key level of $23,000, but only briefly as 24 hours later an influx of liquidity soared back into the premier store of value. The start of the week has seen Bitcoin surge higher and retake $24,000 as retail investors continue to add to their position and institutions are seeing enough support levels to warrant an entry.
While Bitcoin could be primed for a breakout, some analysts are not as optimistic, citing that the protocol has not yet hit its bottom, with a worst-case scenario of a re-test of $10,000. While a re-test of that level will largely be because of wider macroeconomic uncertainty, further volatility in the stock market could cause a realisation of this.
With inflation expected to go higher across western countries and interest rates reaching levels not seen in decades, testing times could be on the horizon. Even so, crypto has consistently outperformed the market in recent years, is continuing to see an increase in adoption, and has been touted as one of the best hedges against inflation moving forward. With the transition from Web2 to Web3 well underway it is easy to see why and we are bullish on crypto in the long run.
Youniverze (YUNI)
Presale: http://join.youniverze.io/
Website: http://youniverze.io/
Telegram: https://t.me/YouniverzeOfficial